Sowell Financial Services LLC purchased a new position in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,585 shares of the company's stock, valued at approximately $318,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. increased its position in Merchants Bancorp by 76.0% during the fourth quarter. Ameriprise Financial Inc. now owns 82,200 shares of the company's stock worth $2,998,000 after purchasing an additional 35,492 shares during the last quarter. Millennium Management LLC increased its position in Merchants Bancorp by 214.1% during the fourth quarter. Millennium Management LLC now owns 126,087 shares of the company's stock worth $4,598,000 after purchasing an additional 85,948 shares during the last quarter. Jane Street Group LLC increased its position in Merchants Bancorp by 94.2% during the fourth quarter. Jane Street Group LLC now owns 20,513 shares of the company's stock worth $748,000 after purchasing an additional 9,952 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Merchants Bancorp during the fourth quarter worth about $878,000. Finally, Two Sigma Investments LP acquired a new stake in Merchants Bancorp during the fourth quarter worth about $1,282,000. 24.57% of the stock is owned by hedge funds and other institutional investors.
Merchants Bancorp Price Performance
Shares of MBIN opened at $31.39 on Friday. Merchants Bancorp has a 1-year low of $27.25 and a 1-year high of $53.27. The stock has a market cap of $1.44 billion, a PE ratio of 5.77 and a beta of 1.29. The firm has a 50-day simple moving average of $31.97 and a two-hundred day simple moving average of $36.14. The company has a debt-to-equity ratio of 2.49, a current ratio of 1.20 and a quick ratio of 0.88.
Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing analysts' consensus estimates of $1.25 by ($0.32). The company had revenue of $287.20 million for the quarter, compared to analyst estimates of $169.00 million. Merchants Bancorp had a net margin of 20.73% and a return on equity of 19.09%. As a group, analysts forecast that Merchants Bancorp will post 5.54 EPS for the current year.
Merchants Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, June 13th. Merchants Bancorp's dividend payout ratio (DPR) is currently 7.35%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Raymond James Financial restated an "outperform" rating and set a $41.00 price objective (down from $45.00) on shares of Merchants Bancorp in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of Merchants Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, Morgan Stanley dropped their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th.
View Our Latest Stock Report on MBIN
About Merchants Bancorp
(
Free Report)
Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.
Further Reading
Want to see what other hedge funds are holding MBIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merchants Bancorp (NASDAQ:MBIN - Free Report).
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